FAMILY-owned logistics and construction services company Malcolm Group has raised annual trading profits by about 11 per cent on the back of an increase in turnover.
The rise in profits was achieved against a backdrop of strong Scottish construction sector growth but in a period in which broader UK economic conditions have remained challenging.
Malcolm Group, which is based at Linwood in Renfrewshire, raised trading profits to £7.055 million in the year to January 31 from £6.35m in the prior 12 months.
Chief executive Andrew Malcolm described this as “a good performance given the relatively low growth being experienced within the wider UK economy”.
Taking into account asset gains and the cost of servicing debt, Malcolm Group’s pre-tax profits came in at £7.36m in the 12 months to January, up from £6.68m in the prior financial year.
The company, which employs more than 2,000 people and has significant operations both in Scotland and south of the Border, highlighted increased activity in its logistics operations and its construction services and waste management division.
Malcolm Group achieved a rise in turnover to £216m in the year to January from £193m in the prior 12 months.
The company, which was listed on the stock market before being taken back into the ownership of the Malcolm family in a public-to-private deal in 2005, signalled it was happy with trading in the current financial year.
Mr Malcolm said: ““Activity levels in the current year in both the logistics and construction services divisions are in line with our expectations, and we are cautiously optimistic for the year ahead.”
Scottish Government figures have shown strong growth in the construction sector in every quarter since the start of 2014.
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